Minneapolis/St. Paul, Minnesota prices: $5,299 in 1995 $10,551.86 in 2023

Inflation in Minnesota

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Prices in Minneapolis/st. Paul, 1995-2023 ($5,299)

According to the U.S. Bureau of Labor Statistics, prices in Minneapolis-St Paul, Minnesota are 99.13% higher in 2023 versus 1995 (a $5,252.86 difference in value).

Between 1995 and 2023: Minneapolis/St. Paul experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, $5,299 in Minneapolis/St. Paul in the year 1995 would cost $10,551.86 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation in Minneapolis/St. Paul was lower.

In the year 1995: Pricing changed by 2.37%, which is below the average yearly change in Minneapolis/St. Paul during the 1995-2023 time period. Compared to inflation for all items in 1995 (2.81%), inflation in Minneapolis/St. Paul was lower.

Price Inflation in Minneapolis-St Paul, Minnesota since 1984

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (7.45%), 1988 (5.02%), and 2021 (4.84%).

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Buying power of $5,299.00 since 1995

Below are calculations of equivalent buying power in Minneapolis/St. Paul, over time, for $5,299 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1995$5,299.002.37%
1996$5,475.633.33%
1997$5,601.802.30%
1998$5,706.341.87%
1999$5,886.583.16%
2000$6,131.704.16%
2001$6,362.403.76%
2002$6,474.151.76%
2003$6,585.901.73%
2004$6,773.352.85%
2005$6,960.802.77%
2006$7,072.541.61%
2007$7,254.482.57%
2008$7,532.443.83%
2009$7,493.90-0.51%
2010$7,632.291.85%
2011$7,906.653.59%
2012$8,091.212.33%
2013$8,248.091.94%
2014$8,363.521.40%
2015$8,311.39-0.62%
2016$8,440.371.55%
2017$8,624.002.18%
2018$8,830.552.40%
2019$9,015.732.10%
2020$9,119.941.16%
2021$9,561.414.84%
2022$10,273.867.45%
2023$10,551.862.71%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Minneapolis-St Paul, Minnesota:

Year1984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI103.100107.000108.400111.600117.200122.000127.000130.400135.000139.200143.600147.000151.900155.400158.300163.300170.100176.500179.600182.700187.900193.100196.200201.247208.958207.889211.728219.339224.459228.811232.013230.567234.145239.239244.969250.106252.997265.244285.008292.720

Adjust Minneapolis/St. Paul prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1995 * 1995 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Minneapolis-St Paul, Minnesota was 147.000 in the year 1995 and 292.720 in 2023:

292.720 / 147.000 * $5,299 = $10,551.86

Therefore, according to U.S. Bureau of Labor Statistics, $5,299 in 1995 has the same "purchasing power" as $10,551.86 in 2023 (in the CPI category of Minneapolis-St Paul, Minnesota).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Minneapolis-St Paul, Minnesota in 1984. In addition to Minneapolis/St. Paul, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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